Turmeric prices drifted lower by
0.81 per cent to Rs 7,042 per quintal in the futures market today on account of easing demand from retailers and industrial buyers at the spot market.
Furthermore, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month declined by Rs 58, or 0.81 per cent to Rs 7,042 per quintal with an open interest of 9,715 lots.
Similarly, the spice for delivery in July lost Rs 56, or 0.77 per cent, to Rs 7,126 per quintal in 10,290 lots.
Market analysts said off-loading of positions by traders, triggered by fall in demand at the domestic spot market against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices.
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